$VITL reports strong Q4 2022 financial results, FY22 net revenue up 38.4% YoY
Mar 9th 2023, 12:26 pm
Analyst Summary: Vital Farms reported strong Q4 2022 financial results, with net revenue increasing 42.1% YoY to $110.8 million, driven by continued demand for its ethically produced foods, primarily eggs, and pricing increases. Vital Farms also reported a fiscal year 2022 net revenue increase of 38.4% YoY to $362.3 million. The company's gross profit increased due to higher sales, despite headwinds from higher input costs and packaging costs. Adjusted EBITDA increased in both periods driven by higher sales and improved gross profit performance, offset by increased employee-related expenses and higher market spend. The management team stated that it is well-positioned for continued growth towards its long-term top-line objectives and goals of low double-digit Adjusted EBITDA Margin. The company provided guidance for fiscal year 2023 of $450 million in net revenue and $30 million in Adjusted EBITDA, assuming no significant disruptions to the supply chain.